Friday, 15 November, 2019

MoviePass, the game-changing ticketing service, is shutting down

For a fleeting moment in time Movie Pass subscribers could see a movie a day for just $9.95 a month For a fleeting moment in time Movie Pass subscribers could see a movie a day for just $9.95 a month. Richard Drew AP
Lora Ball | 14 September, 2019, 09:58

In an "I hope no one notices" late Friday press release, the company announced it "would be interrupting the MoviePass service for all its subscribers effective September 14, 2019", and it is "unable to predict if or when the MoviePass service will continue". MoviePass' parent company, Helios and Matheson Analytics, said it has formed a strategic review company to explore financial alternatives for the company.

MoviePass was not a good service.

MoviePass in August 2018 eliminated the one-movie-per-day plan, priced at $9.95 per month - an offer that evidently proved to be economically unsustainable - replacing it with a new $9.95 plan letting subscribers see just three movies each month. "There can be no assurance that any such financing will be obtained or available on terms acceptable to the Committee". After that, the service grew rapidly to 3 million subscribers in less than a year. Unfortunately, MoviePass never recovered after dropping that model business and is now looking for a buyer. As a result, they did away with the unlimited plan and changed prices - something that didn't go over so well.

All of MoviePass' issues - from film restrictions to a glitchy mobile app - led to a subscriber exodus (Business Insider reported in April that the service had about 225,000 subscribers).

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The announcement sent Helios' stock down more than 10 percent, to less than two hundreths of a penny.

A MoviePass data breach in Dubai may have exposed customer information.

Despite the service's potential demise, it has arguably changed the theatre-going experience.

MoviePass is no more, unless its owner can find a buyer to revive the movie ticket subscription service.

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